Stock tied to Trump media venture soars

NEW YORK — The company planning to bring President Donald Trump’s new media venture to the stock market soared further, on Friday, amid another frenzy of trading.

Digital World Acquisition Corp. nearly tripled in the first minute of trading before it was temporarily halted. It then gave up a chunk of those gains, but it still ended the day with a 107% gain to $94.20. In the morning, it climbed as high as $175.

A day before, the stock more than quadrupled to $45.50 from $9.96 after it said it would merge with Trump Media & Technology Group. The new venture, with Trump as its chairman, aims to challenge Facebook, Twitter and even Disney’s streaming video service.

Experts are mixed on the company’s prospects, and the deal announcing its merger with Digital World Acquisition was unusual in how few details it offered investors. The company was incorporated in February but has yet to publish an app, offer details about its financials or say how much it plans to charge for its on-demand streaming and other services. All of that could give investors pause, but not by enough to keep Digital World Acquisition Corp.’s stock from soaring.